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* Macy's climbs after earnings
* BB&T to buy Susquehanna Bancshares for $2.5 bln
* Wholesale inventory data due
* Indexes off: Dow 0.37 pct, S&P 0.34 pct, Nasdaq 0.23 pct (Adds earnings, economic data)
By Chuck Mikolajczak
NEW YORK, Nov 12 (Reuters) - U.S. stocks were lower onWednesday, a day after the Dow and S&P 500 closed at recordhighs for a fifth straight session.
Financial companies lost ground after global regulatorsfined five major banks - including UBS AG ,HSBC Holdings Plc and Citigroup Inc - $3.4billion for failing to stop their traders from trying tomanipulate the foreign exchange market.
Citigroup, which will pay $1.02 billion to settle the probe, dipped 1.4 percent to $53.08. JPMorgan Chase, which isalso facing a penalty, fell 1.6 percent to $60.38 as the biggestdrag on the S&P 500, while the S&P financial index lost0.7 percent.
"Anytime people are encouraged to go into processes theydon't fully understand, it's a big warning sign, so while I amdisappointed I am not really that shocked," said Kim Forrest,senior equity research analyst at Fort Pitt Capital Group inPittsburgh.
Tuesday's S&P 500 record marked its 40th new closing high ofthe year, versus 45 in 2013. The last five-day streak of recordhighs was in May 2013, and the next longest was eight days inJune 1997. The Dow is on a 6-session winning run, its longestsince June.
"This is a pause, there hasn't been any horrible newspressing down the market, there are concerns, however," saidForrest.
The Dow Jones industrial average fell 65.02 points,or 0.37 percent, to 17,549.88, the S&P 500 lost 6.87points, or 0.34 percent, to 2,032.81 and the Nasdaq Composite dropped 10.64 points, or 0.23 percent, to 4,649.92.
The S&P 500 has rallied more than 9 percent from a six-monthlow in October, buoyed by supportive economic data and corporateearnings. For the year so far, it is up more than 10 percent.
As earnings season draws to a close, Thomson Reuters datathrough Wednesday morning showed that of 453 companies in theS&P 500 reporting, 74.8 percent beat expectations, above the 63percent average beat rate since 1994 and 67 percent for the pastfour quarters. Earnings overall were expected to grow 10 percentover the year-ago period.
Macy's Inc rose 4.6 percent to $61.26 after it postedthird-quarter earnings and revised its full-year outlook. Cisco Systems is scheduled to reportearnings after the close.
U.S. wholesale inventories rose more that expected inSeptember but the government revised downward its initialestimates for growth in stockpiles during August, which suggestslittle impact on current views of third-quarter economic growth.
Susquehanna Bancshares Inc surged 32.4 percent to$13.11 after the company agreed to be acquired by BB&T Corp for about $2.5 billion. BB&T shares lost 2.5 percent to$37.37. (Reporting by Chuck Mikolajczak; Editing by W Simon, JS Benkoeand Nick Zieminski)
